The Department of Labor Statistics’ monthly Employment Report is perhaps the most followed and reported on piece of economic data. This report produces the official estimate of unemployment in the United States. A couple of years ago when we started providing updates on Jobs Day, the unemployment rate had implications on how the Federal Reserve would conduct monetary policy. As unemployment slowly fell the narrative was about the painfully slow pace of the economic recovery and when the Fed eventually ended QE, the concern in the market was if the economy was strong enough to stand on its own.
The growth in jobs since then has been extraordinary.
There's simply no denying the acceleration in hiring since start of 2014. pic.twitter.com/6iHGwsoULg— Ben Casselman (@bencasselman) February 6, 2015
Just an extraordinary rate of jobs growth. The recovery we've waited all these years for is finally here.— Justin Wolfers (@JustinWolfers) February 6, 2015